Owning a timeshare may be attractive because it gives you the opportunity to enjoy, for a certain period of time each year, the exclusive use of a luxury property, in a resort. However, the lack of information and the willingness of those who are selling such properties can bring you in very unpleasant situations, which is why we are doing a short review of what really means to own a timeshare.
The purchasing price is not the only money that you must take out from your pocket for such a property. There are additional annual fees, maintenance costs, lawyers or brokerage agencies fees and the list may continue, and timeshare cancellation can be done, but with a cost. The worst part is that most people are not aware of the existence of these costs because the sellers keep them in the dark on purpose, just to make them sign the contract sooner.
Most of those who walk into the trap of purchasing a timeshare do not even know that it is actually a timeshare they are paying for. Often, the way traders attract customers can be contrary to the law.
A timeshare is not an investment. Another thing you find out when it is too late is that when you try to resale your timeshare, the price will drop drastically and you may end up with no benefit at all.
First Posted on: Things They Do Not Tell You About Timeshares
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